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Investor Presentaiton

- supplies goods from the Czech Republic to another EU member state to a person registered for VAT in another EU member state; ― moves their own goods from the Czech Republic to another EU member state; ― acts as the intermediary in a triangular transaction between VAT registered traders in other EU member states; - provides a service to a customer established in another EU member state, where the place of taxable supply is determined in that EU member state under the general rule. The EC Sales List should be submitted elec- tronically on a monthly basis, within 25 days of the end of the month in which the supply takes place. Quarterly VAT payers, who only provide services as described in point 4 above, may submit EC Sales Lists on a quarterly basis. VAT Ledger Statement Since 1 January 2016, Czech VAT payers are obliged to file a VAT Ledger Statement which is considered an effective tool to detect and prevent tax evasion and fraud. The VAT ledger statement is filed electronically on a monthly or quarterly basis (depending on the status of the VAT payer) within 25 days after the end of a VAT period. VAT payers are obliged to report particular data about: local supplies; ― local purchases; - acquisition of goods from another EU member state and supplies acquired from persons not established in the Czech Republic; supplies (both received and provided) under the local reverse charge regime. The VAT Ledger Statement does not substitute VAT return or the EC Sales List. Intrastat declarations Businesses dispatching goods to or receiving goods from other EU member states and ex- ceeding relevant annual thresholds (CZK 8 mil- lion for dispatches or CZK 8 million for goods received) must complete and file an Intrastat declaration. Intrastat declarations are submitted on a monthly basis, by the 12th working day of the month following the month for which the declaration is being filed. Intrastat declarations must be submitted electronically. A penalty of up to CZK 1 million may be imposed for failing to submit an Intrastat declaration. 72
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